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Amazon records 11 Cr customer visits in the first 48 hours of Great Indian Festival sale

By
M Haziq Pandit
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0
Amazon

E-commerce giant Amazon recorded 11 crore customer visits, with over 8,000 sellers surpassing INR 1 lakh in sales during the first 48 hours of the Amazon Great Indian Festival 2024.

Saurabh͏͏ Srivastava,͏͏ VP–Categories͏͏ at͏͏ Amazon͏͏ India,͏͏ stated,͏͏ “We͏͏ are͏͏ excited͏͏ to͏͏ see͏͏ the͏͏ largest͏͏ opening͏͏ ever,͏͏ with͏͏ a͏͏ record͏͏ 11͏͏ crore͏͏ customer͏͏ visits͏͏ and͏͏ the͏͏ highest͏͏ number͏͏ of͏͏ Prime͏͏ members͏͏ shopping͏͏ during͏͏ PEA.͏͏ Additionally,͏͏ we͏͏ witnessed͏͏ exceptional͏͏ participation͏͏ from͏͏ sellers͏͏ across͏͏ India,͏͏ including͏͏ small͏͏ and͏͏ medium͏͏ businesses,͏͏ with͏͏ thousands͏͏ of͏͏ sellers͏͏ becoming͏͏ lakhpatis͏͏ in͏͏ the͏͏ first͏͏ 48͏͏ hours͏͏ of͏͏ AGIF͏͏ ’24.”

Tier͏͏ 2͏͏ and͏͏ 3͏͏ Cities͏͏ Drive͏͏ Sales:

Regarding͏͏ categories,͏͏ nearly͏͏ 80͏͏ per͏͏ cent͏͏ of͏͏ all͏͏ television͏͏ orders͏͏ originated͏͏ from͏͏ tier͏͏ 2͏͏ and͏͏ 3͏͏ cities,͏͏ with͏͏ 50͏͏ per͏͏ cent͏͏ of͏͏ customers͏͏ opting͏͏ for͏͏ EMI͏͏ as͏͏ their͏͏ payment͏͏ method,͏͏ according͏͏ to͏͏ the͏͏ company.͏͏ Overall,͏͏ the͏͏ e-tailer͏͏ reported͏͏ a͏͏ 40͏͏ per͏͏ cent͏͏ rise͏͏ in͏͏ no-cost͏͏ EMI͏͏ transactions,͏͏ with͏͏ 90͏͏ per͏͏ cent͏͏ of͏͏ EMI͏͏ purchases͏͏ concentrated͏͏ on͏͏ mobiles,͏͏ TVs,͏͏ and͏͏ appliances.

Continue͏͏ Exploring:͏͏ Amazon India͏͏ unveils͏͏ AI͏͏ chatbot͏͏ Rufus͏͏ ahead͏͏ of͏͏ Great͏͏ Indian͏͏ Festival͏͏ sale

Fashion͏͏ and͏͏ Beauty͏͏ Boom:

Amazon͏͏ Fashion͏͏ and͏͏ Beauty͏͏ experienced͏͏ over͏͏ 60͏͏ per͏͏ cent͏͏ of͏͏ new͏͏ customers͏͏ coming͏͏ from͏͏ tier͏͏ 2͏͏ cities͏͏ and͏͏ beyond,͏͏ accounting͏͏ for͏͏ more͏͏ than͏͏ 55͏͏ per͏͏ cent͏͏ of͏͏ total͏͏ orders͏͏ placed͏͏ within͏͏ the͏͏ first͏͏ 48͏͏ hours͏͏ of͏͏ the͏͏ sale.

SMBs͏͏ Achieve͏͏ Sales͏͏ Milestones:

In͏͏ terms͏͏ of͏͏ sellers,͏͏ the͏͏ company͏͏ noted͏͏ that͏͏ small͏͏ and͏͏ medium͏͏ businesses͏͏ (SMBs),͏͏ including͏͏ women͏͏ entrepreneurs,͏͏ weavers,͏͏ and͏͏ artisans,͏͏ sold͏͏ more͏͏ than͏͏ 1,500͏͏ units͏͏ per͏͏ minute͏͏ during͏͏ the͏͏ first͏͏ 48͏͏ hours.

Continue͏͏ Exploring:͏͏ SMBs͏͏ to͏͏ launch͏͏ over͏͏ 9,500͏͏ new͏͏ products͏͏ in͏͏ Amazon’s͏͏ festive͏͏ sale

Amazon͏͏ recently͏͏ launched͏͏ three͏͏ new͏͏ fulfillment͏͏ centers͏͏ (FCs)͏͏ in͏͏ Delhi͏͏ NCR,͏͏ Guwahati,͏͏ and͏͏ Patna͏͏ to͏͏ enhance͏͏ its͏͏ pan-India͏͏ logistics͏͏ network͏͏ ahead͏͏ of͏͏ the͏͏ festive͏͏ season.͏͏ The͏͏ company͏͏ also͏͏ announced͏͏ the͏͏ creation͏͏ of͏͏ over͏͏ 100,000͏͏ seasonal͏͏ job͏͏ opportunities͏͏ across͏͏ its͏͏ operations͏͏ network͏͏ in͏͏ the͏͏ country.

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PepsiCo India revamps Lay’s Wafer Chips with new Red Chilli flavour

By
M Haziq Pandit
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0
PepsiCo Lay's

Inspired by India’s love for bold and authentic flavours, Lay’s has revitalised its Wafer Chips range with the introduction of a new Red Chilli flavour. This͏͏ innovative͏͏ product͏͏ offers͏͏ a͏͏ distinctive͏͏ taste,͏͏ refined͏͏ through͏͏ comprehensive͏͏ consumer͏͏ research.͏͏ With͏͏ a͏͏ light͏͏ and͏͏ exceptionally͏͏ crisp͏͏ texture,͏͏ Lay’s͏͏ now͏͏ features͏͏ two͏͏ unique͏͏ flavours͏͏ –͏͏ Salt͏͏ &͏͏ Pepper͏͏ and͏͏ Red͏͏ Chilli͏͏ –͏͏ ensuring͏͏ a͏͏ delightful͏͏ snacking͏͏ experience͏͏ for͏͏ consumers͏͏ across͏͏ the͏͏ country.

Tailored͏͏ to͏͏ Diverse͏͏ Tastes:

While͏͏ Salt͏͏ &͏͏ Pepper͏͏ offers͏͏ a͏͏ universally͏͏ loved͏͏ classic͏͏ flavour,͏͏ Red͏͏ Chilli͏͏ appeals͏͏ to͏͏ those͏͏ seeking͏͏ a͏͏ bold,͏͏ spicy͏͏ kick.͏͏ With͏͏ this͏͏ launch,͏͏ PepsiCo͏͏ India͏͏ reinforces͏͏ its͏͏ dedication͏͏ to͏͏ celebrating͏͏ the͏͏ country’s͏͏ rich͏͏ culinary͏͏ traditions,͏͏ merging͏͏ India’s͏͏ cultural͏͏ heritage͏͏ with͏͏ a͏͏ delightful͏͏ and͏͏ contemporary͏͏ snacking͏͏ experience.

Continue͏͏ Exploring:͏͏ PepsiCo India diversifies͏͏ Lay’s portfolio͏͏ with͏͏ launch͏͏ of͏͏ new͏͏ sub-brand͏͏ ‘Shapez’

Expressing͏͏ her͏͏ excitement͏͏ about͏͏ the͏͏ launch,͏͏ Soumya͏͏ Rathor,͏͏ category͏͏ lead͏͏ –͏͏ Potato͏͏ Chips͏͏ at͏͏ PepsiCo͏͏ India,͏͏ stated,͏͏ “As͏͏ a͏͏ nation͏͏ of͏͏ ‘many͏͏ Indias,’͏͏ Lay’s͏͏ understands͏͏ the͏͏ importance͏͏ of͏͏ tailoring͏͏ its͏͏ products͏͏ to͏͏ meet͏͏ diverse͏͏ preferences.͏͏ Our͏͏ new͏͏ Red͏͏ Chilli͏͏ Wafer͏͏ Chips͏͏ launch,͏͏ complete͏͏ with͏͏ a͏͏ newly͏͏ designed͏͏ pack,͏͏ showcases͏͏ PepsiCo’s͏͏ commitment͏͏ to͏͏ innovative͏͏ and͏͏ disruptive͏͏ steps.͏͏ Each͏͏ chip͏͏ is͏͏ crafted͏͏ to͏͏ be͏͏ light,͏͏ thin,͏͏ and͏͏ crispy,͏͏ perfectly͏͏ seasoned͏͏ to͏͏ reflect͏͏ the͏͏ unique͏͏ tastes͏͏ of͏͏ our͏͏ varied͏͏ audience.͏͏ We’re͏͏ thrilled͏͏ to͏͏ offer͏͏ this͏͏ delightful͏͏ fusion͏͏ of͏͏ exceptional͏͏ quality͏͏ and͏͏ cultural͏͏ inspiration,͏͏ and͏͏ we͏͏ look͏͏ forward͏͏ to͏͏ continuing͏͏ to͏͏ bring͏͏ joy͏͏ to͏͏ people͏͏ across͏͏ the͏͏ country.”

Priced͏͏ at͏͏ INR͏͏ 10͏͏ and͏͏ INR͏͏ 20,͏͏ Lay’s͏͏ Wafer͏͏ Chips͏͏ will͏͏ be͏͏ available͏͏ at͏͏ a͏͏ variety͏͏ of͏͏ retail͏͏ outlets͏͏ and͏͏ e-commerce͏͏ platforms,͏͏ ensuring͏͏ nationwide͏͏ accessibility͏͏ for͏͏ consumers͏͏ looking͏͏ for͏͏ light,͏͏ crispy͏͏ snacks͏͏ packed͏͏ with͏͏ flavour.͏͏ The͏͏ launch͏͏ of͏͏ the͏͏ new͏͏ Wafer͏͏ Chips͏͏ flavour͏͏ is͏͏ supported͏͏ by͏͏ an͏͏ engaging͏͏ TV͏͏ commercial͏͏ featuring͏͏ brand͏͏ ambassador͏͏ Mahendra͏͏ Singh͏͏ Dhoni.

Continue͏͏ Exploring:͏͏ Lays’ gets͏͏ a͏͏ desi͏͏ twist:͏͏ AI͏͏ imagines͏͏ a͏͏ chip͏͏ lineup͏͏ featuring͏͏ Dhokla,͏͏ Chole͏͏ Bhature,͏͏ and͏͏ More

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Indian luxury beauty market to reach $1.6 bn by 2028: Report

By
M Haziq Pandit
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0
luxury beauty market

The Indian luxury beauty market is expected to grow to USD 1.6 billion by 2028 and reach USD 4.0 billion by 2035, as highlighted in a report by Kearney and LUXASIA.

Rapid͏͏ Expansion͏͏ Drivers:

India͏͏ is͏͏ poised͏͏ to͏͏ be͏͏ one͏͏ of͏͏ the͏͏ fastest-growing͏͏ markets͏͏ in͏͏ both͏͏ Asia͏͏ and͏͏ the͏͏ world,͏͏ with͏͏ an͏͏ anticipated͏͏ compound͏͏ annual͏͏ growth͏͏ rate͏͏ (CAGR)͏͏ of͏͏ 14͏͏ per͏͏ cent.͏͏ This͏͏ growth͏͏ is͏͏ fueled͏͏ by͏͏ the͏͏ nation’s͏͏ overall͏͏ economic͏͏ development,͏͏ a͏͏ rising͏͏ middle͏͏ class,͏͏ and͏͏ a͏͏ more͏͏ discerning͏͏ group͏͏ of͏͏ luxury-conscious͏͏ consumers͏͏ keen͏͏ to͏͏ upgrade͏͏ their͏͏ purchases,͏͏ according͏͏ to͏͏ the͏͏ report.

The͏͏ luxury͏͏ beauty͏͏ market͏͏ in͏͏ India͏͏ is͏͏ set͏͏ to͏͏ experience͏͏ growth͏͏ similar͏͏ to͏͏ what͏͏ China͏͏ has͏͏ seen͏͏ over͏͏ the͏͏ past͏͏ 15͏͏ years.͏͏ As͏͏ a͏͏ result,͏͏ brands͏͏ need͏͏ to͏͏ enter͏͏ the͏͏ market͏͏ now͏͏ to͏͏ build͏͏ their͏͏ presence͏͏ and͏͏ capitalise͏͏ on͏͏ this͏͏ potential͏͏ growth.͏͏ The͏͏ report͏͏ noted͏͏ that͏͏ many͏͏ international͏͏ brands͏͏ have͏͏ recently͏͏ entered͏͏ India͏͏ to͏͏ seize͏͏ early-mover͏͏ advantages.

Continue͏͏ Exploring:͏͏ India’s͏͏ luxury market͏͏ surges͏͏ as͏͏ affluent͏͏ buyers͏͏ propel͏͏ growth

Navigating͏͏ Market͏͏ Complexities:

The͏͏ report͏͏ further͏͏ emphasises͏͏ that͏͏ India͏͏ is͏͏ a͏͏ complex͏͏ market,͏͏ with͏͏ its͏͏ vast͏͏ geography͏͏ and͏͏ ethnic͏͏ diversity͏͏ leading͏͏ to͏͏ varied͏͏ consumer͏͏ preferences͏͏ across͏͏ the͏͏ country.͏͏ It͏͏ suggests͏͏ that͏͏ brands͏͏ should͏͏ adopt͏͏ a͏͏ range͏͏ of͏͏ region-specific͏͏ (and͏͏ even͏͏ city-specific)͏͏ strategies͏͏ instead͏͏ of͏͏ relying͏͏ on͏͏ a͏͏ generic͏͏ or͏͏ one-size-fits-all͏͏ approach͏͏ to͏͏ achieve͏͏ success.

Wolfgang͏͏ Baier,͏͏ Group͏͏ CEO͏͏ of͏͏ LUXASIA,͏͏ stated,͏͏ “Now͏͏ is͏͏ the͏͏ time͏͏ to͏͏ enter͏͏ the͏͏ Indian͏͏ market.͏͏ However,͏͏ due͏͏ to͏͏ market͏͏ risks͏͏ and͏͏ the͏͏ potentially͏͏ expensive͏͏ learning͏͏ curve,͏͏ brands͏͏ require͏͏ expert͏͏ support͏͏ to͏͏ establish͏͏ a͏͏ successful͏͏ presence.”

Additionally,͏͏ brands͏͏ must͏͏ navigate͏͏ operational͏͏ and͏͏ regulatory͏͏ complexities,͏͏ including͏͏ product͏͏ registration͏͏ and͏͏ importation,͏͏ while͏͏ optimising͏͏ their͏͏ supply͏͏ chain͏͏ configurations.

Satyaki͏͏ Banerjee,͏͏ Group͏͏ COO͏͏ of͏͏ LUXASIA,͏͏ remarked,͏͏ “Despite͏͏ the͏͏ inherent͏͏ complexity͏͏ and͏͏ diversity͏͏ of͏͏ India,͏͏ it͏͏ remains͏͏ a͏͏ vibrant͏͏ and͏͏ appealing͏͏ market͏͏ for͏͏ luxury͏͏ beauty.͏͏ Growth͏͏ is͏͏ anticipated͏͏ to͏͏ occur͏͏ with͏͏ a͏͏ sudden͏͏ inflection͏͏ point͏͏ rather͏͏ than͏͏ gradually͏͏ over͏͏ time.͏͏ Brands͏͏ must͏͏ establish͏͏ their͏͏ presence͏͏ in͏͏ the͏͏ market͏͏ before͏͏ these͏͏ abrupt͏͏ increases.”

The͏͏ report͏͏ also͏͏ emphasised͏͏ three͏͏ strategic͏͏ pillars͏͏ for͏͏ the͏͏ Indian͏͏ market͏͏ that͏͏ must͏͏ be͏͏ addressed:͏͏ product͏͏ offering͏͏ customisation,͏͏ targeted͏͏ regional͏͏ marketing͏͏ strategies,͏͏ and͏͏ optimising͏͏ omnichannel͏͏ distribution͏͏ through͏͏ strategic͏͏ partnerships.

Continue͏͏ Exploring:͏͏ Beauty and͏͏ personal͏͏ care͏͏ tops͏͏ D2C͏͏ sales͏͏ charts͏͏ in͏͏ 2023:͏͏ GoKwik͏͏ Report

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ONDC bolsters fintech play with first mutual fund transaction on its network

By
M Haziq Pandit
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0
ONDC

As part of its entry into the fintech space, the government-backed Open Network For Digital Commerce (ONDC) facilitated its first mutual fund transaction on the network on͏͏ Tuesday͏͏ (October͏͏ 1).

Collaboration͏͏ with͏͏ Nippon͏͏ India͏͏ Mutual͏͏ Fund:

In͏͏ a͏͏ LinkedIn͏͏ post,͏͏ Hrushikesh͏͏ Mehta,͏͏ ONDC’s͏͏ Senior͏͏ VP͏͏ of͏͏ Financial͏͏ Services,͏͏ stated͏͏ that͏͏ the͏͏ first͏͏ transaction,͏͏ amounting͏͏ to͏͏ INR͏͏ 100,͏͏ was͏͏ conducted͏͏ in͏͏ partnership͏͏ with͏͏ asset͏͏ management͏͏ company͏͏ Nippon͏͏ India͏͏ Mutual͏͏ Fund͏͏ and͏͏ online͏͏ trading͏͏ platform͏͏ Appreciate.

Expanding͏͏ Mutual͏͏ Fund͏͏ Offerings:

Emphasising͏͏ ONDC’s͏͏ intention͏͏ to͏͏ expand͏͏ its͏͏ mutual͏͏ fund͏͏ offerings͏͏ throughout͏͏ India,͏͏ Mehta͏͏ mentioned͏͏ that͏͏ investment͏͏ platforms͏͏ ATX͏͏ Labs͏͏ and͏͏ AssetPlus͏͏ will͏͏ soon͏͏ join͏͏ the͏͏ network͏͏ as͏͏ buyer͏͏ apps.͏͏ He͏͏ also͏͏ noted͏͏ that͏͏ more͏͏ asset͏͏ management͏͏ companies͏͏ are͏͏ expected͏͏ to͏͏ offer͏͏ mutual͏͏ funds͏͏ on͏͏ the͏͏ network͏͏ in͏͏ the͏͏ future.

“Seventy-five͏͏ percent͏͏ of͏͏ mutual͏͏ fund͏͏ AUM͏͏ is͏͏ concentrated͏͏ in͏͏ the͏͏ top͏͏ 30͏͏ cities͏͏ in͏͏ India.͏͏ Our͏͏ aim͏͏ is͏͏ to͏͏ shift͏͏ this͏͏ balance͏͏ by͏͏ promoting͏͏ mutual͏͏ fund͏͏ product͏͏ adoption͏͏ beyond͏͏ these͏͏ urban͏͏ areas.͏͏ After͏͏ 18͏͏ months͏͏ of͏͏ effort,͏͏ we͏͏ have͏͏ taken͏͏ the͏͏ first͏͏ step͏͏ towards͏͏ transforming͏͏ our͏͏ nation͏͏ from͏͏ savers͏͏ to͏͏ investors,”͏͏ the͏͏ post͏͏ stated.

Continue͏͏ Exploring:͏͏ ONDC to͏͏ unveil͏͏ insurance͏͏ and͏͏ mutual͏͏ fund͏͏ solutions͏͏ in͏͏ the͏͏ next͏͏ two͏͏ months

With͏͏ this͏͏ initiative,͏͏ ONDC͏͏ aims͏͏ to͏͏ make͏͏ mutual͏͏ fund͏͏ investments͏͏ more͏͏ accessible͏͏ to͏͏ a͏͏ wider͏͏ audience͏͏ through͏͏ its͏͏ network.͏͏ Mehta͏͏ mentioned͏͏ that͏͏ the͏͏ network’s͏͏ financial͏͏ division͏͏ has͏͏ been͏͏ developing͏͏ the͏͏ product͏͏ for͏͏ the͏͏ past͏͏ 18͏͏ months.

ONDC’s͏͏ intentions͏͏ to͏͏ enter͏͏ the͏͏ mutual͏͏ fund͏͏ transactions͏͏ market͏͏ were͏͏ announced͏͏ by͏͏ MD͏͏ and͏͏ CEO͏͏ T.͏͏ Koshy͏͏ in͏͏ August.͏͏ He͏͏ stated͏͏ that͏͏ the͏͏ network͏͏ planned͏͏ to͏͏ launch͏͏ the͏͏ offering͏͏ in͏͏ September,͏͏ targeting͏͏ 100-200͏͏ transactions.

In͏͏ August͏͏ this͏͏ year,͏͏ ONDC͏͏ initiated͏͏ its͏͏ fintech͏͏ expansion͏͏ with͏͏ the͏͏ launch͏͏ of͏͏ credit͏͏ offerings.͏͏ Through͏͏ this͏͏ initiative,͏͏ customers͏͏ using͏͏ the͏͏ network͏͏ via͏͏ Easypay,͏͏ Paisabazaar,͏͏ Tata͏͏ Digital,͏͏ Invoicepe,͏͏ Cliniq360,͏͏ Zyapaar,͏͏ Indipe,͏͏ Tyreplex,͏͏ and͏͏ PayNearby͏͏ can͏͏ obtain͏͏ fully͏͏ digital͏͏ and͏͏ paperless͏͏ loans͏͏ in͏͏ just͏͏ six͏͏ minutes.

Launched͏͏ in͏͏ 2021,͏͏ ONDC͏͏ is͏͏ an͏͏ initiative͏͏ by͏͏ the͏͏ Department͏͏ for͏͏ Promotion͏͏ of͏͏ Industry͏͏ and͏͏ Internal͏͏ Trade͏͏ (DPIIT)͏͏ under͏͏ the͏͏ Ministry͏͏ of͏͏ Commerce͏͏ and͏͏ Industry.͏͏ Its͏͏ goal͏͏ is͏͏ to͏͏ promote͏͏ open͏͏ networks͏͏ for͏͏ the͏͏ exchange͏͏ of͏͏ goods͏͏ and͏͏ services͏͏ via͏͏ digital͏͏ or͏͏ electronic͏͏ platforms.͏͏ ONDC͏͏ claims͏͏ to͏͏ be͏͏ operational͏͏ in͏͏ over͏͏ 611͏͏ cities͏͏ with͏͏ 111͏͏ network͏͏ participants.

Since͏͏ its͏͏ inception,͏͏ the͏͏ network͏͏ has͏͏ aimed͏͏ to͏͏ democratise͏͏ the͏͏ e-commerce͏͏ ecosystem͏͏ in͏͏ India.͏͏ However,͏͏ venturing͏͏ into͏͏ the͏͏ uncharted͏͏ fintech͏͏ space͏͏ has͏͏ been͏͏ a͏͏ long-standing͏͏ goal͏͏ for͏͏ the͏͏ govt-backed͏͏ network.

In͏͏ June͏͏ of͏͏ last͏͏ year,͏͏ Koshy͏͏ mentioned͏͏ that͏͏ the͏͏ network͏͏ had͏͏ formed͏͏ a͏͏ working͏͏ committee͏͏ made͏͏ up͏͏ of͏͏ fintech͏͏ industry͏͏ experts͏͏ to͏͏ establish͏͏ a͏͏ standard͏͏ protocol͏͏ for͏͏ onboarding͏͏ and͏͏ integrating͏͏ sellers͏͏ and͏͏ industry͏͏ participants.

Future͏͏ Loan͏͏ and͏͏ Insurance͏͏ Plans:

Currently,͏͏ the͏͏ network͏͏ plans͏͏ to͏͏ provide͏͏ unsecured͏͏ GST-based͏͏ invoice͏͏ loans,͏͏ unsecured͏͏ purchase͏͏ financing,͏͏ and͏͏ unsecured͏͏ working͏͏ capital͏͏ lines.͏͏ Additionally,͏͏ it͏͏ aims͏͏ to͏͏ enter͏͏ the͏͏ insurance͏͏ sector͏͏ with͏͏ offerings͏͏ such͏͏ as͏͏ health͏͏ insurance,͏͏ motor͏͏ insurance,͏͏ and͏͏ life͏͏ insurance.

Continue͏͏ Exploring:͏͏ ONDC launches͏͏ Saarthi͏͏ to͏͏ facilitate͏͏ custom͏͏ buyer͏͏ apps͏͏ for͏͏ businesses

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Snack brand Troo Good raises INR 72 Crore in new funding round

By
M Haziq Pandit
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0
Troo Good

Millet-based snack brand Troo Good has secured INR 72 crore (around $8.6 million) in funding from Oaks Asset Management, with additional participation from Puro Wellness and V Ocean Investments,͏͏ as͏͏ reported͏͏ by͏͏ Entrackr.

The͏͏ board͏͏ at͏͏ Troo͏͏ Good͏͏ has͏͏ approved͏͏ a͏͏ resolution͏͏ to͏͏ issue͏͏ 10,176͏͏ equity͏͏ shares͏͏ to͏͏ raise͏͏ the͏͏ aforementioned͏͏ sum,͏͏ as͏͏ indicated͏͏ in͏͏ its͏͏ regulatory͏͏ filing͏͏ from͏͏ the͏͏ Registrar͏͏ of͏͏ Companies.

Key͏͏ Investments͏͏ from͏͏ Oaks,͏͏ Puro,͏͏ and͏͏ V͏͏ Ocean:

Existing͏͏ investor͏͏ Oaks͏͏ Asset͏͏ Management͏͏ contributed͏͏ INR͏͏ 37͏͏ crore,͏͏ while͏͏ V͏͏ Ocean͏͏ Investments͏͏ and͏͏ Puro͏͏ Wellness͏͏ invested͏͏ INR͏͏ 10͏͏ crore͏͏ and͏͏ INR͏͏ 25͏͏ crore,͏͏ respectively.͏͏ The͏͏ filing͏͏ also͏͏ noted͏͏ that͏͏ the͏͏ company͏͏ will͏͏ use͏͏ these͏͏ funds͏͏ to͏͏ meet͏͏ its͏͏ working͏͏ capital͏͏ requirements.

Continue͏͏ Exploring:͏͏ Troo Good targets͏͏ INR͏͏ 100͏͏ Crore͏͏ revenue͏͏ as͏͏ it͏͏ expands͏͏ production͏͏ and͏͏ aims͏͏ for͏͏ pan-India͏͏ presence

Total͏͏ Funding͏͏ Reaches͏͏ INR͏͏ 132͏͏ Crore:

To͏͏ date,͏͏ the͏͏ company͏͏ has͏͏ secured͏͏ roughly͏͏ INR͏͏ 132͏͏ crore,͏͏ including͏͏ INR͏͏ 55͏͏ crore͏͏ from͏͏ a͏͏ Series͏͏ A͏͏ funding͏͏ round͏͏ led͏͏ by͏͏ Oaks͏͏ Management͏͏ in͏͏ November͏͏ 2021.͏͏ According͏͏ to͏͏ the͏͏ startup͏͏ data͏͏ intelligence͏͏ platform͏͏ TheKredible,͏͏ Troo͏͏ Good͏͏ is͏͏ expected͏͏ to͏͏ be͏͏ valued͏͏ at͏͏ INR͏͏ 322͏͏ crore,͏͏ or͏͏ $38͏͏ million,͏͏ following͏͏ the͏͏ allotment.

Following͏͏ the͏͏ recent͏͏ funding,͏͏ Oaks͏͏ Asset͏͏ Management͏͏ will͏͏ hold͏͏ a͏͏ substantial͏͏ 28.89%͏͏ of͏͏ the͏͏ capital,͏͏ while͏͏ Puro͏͏ Wellness͏͏ and͏͏ V͏͏ Ocean͏͏ Investments͏͏ will͏͏ have͏͏ stakes͏͏ of͏͏ 7.75%͏͏ and͏͏ 14.28%,͏͏ respectively.

Founded͏͏ in͏͏ 2018͏͏ by͏͏ Raju͏͏ Bhupati,͏͏ Troo͏͏ Good͏͏ is͏͏ a͏͏ Hyderabad-based͏͏ company͏͏ that͏͏ offers͏͏ a͏͏ range͏͏ of͏͏ millet-based͏͏ snacks,͏͏ including͏͏ chikkis,͏͏ protein͏͏ bars,͏͏ and͏͏ nutri͏͏ bars.͏͏ The͏͏ company͏͏ claims͏͏ to͏͏ sell͏͏ more͏͏ than͏͏ 2͏͏ million͏͏ millet͏͏ chikkis͏͏ and͏͏ other͏͏ millet͏͏ snacks͏͏ every͏͏ day.

Financial͏͏ Performance:

Although͏͏ the͏͏ firm͏͏ has͏͏ not͏͏ yet͏͏ disclosed͏͏ its͏͏ FY24͏͏ figures,͏͏ Troo͏͏ Good͏͏ achieved͏͏ a͏͏ modest͏͏ 7%͏͏ revenue͏͏ growth,͏͏ reaching͏͏ INR͏͏ 52.7͏͏ crore͏͏ for͏͏ the͏͏ fiscal͏͏ year͏͏ ending͏͏ in͏͏ March͏͏ 2023.͏͏ Furthermore,͏͏ effective͏͏ cost͏͏ management͏͏ allowed͏͏ Troo͏͏ Good͏͏ to͏͏ attain͏͏ profitability͏͏ during͏͏ that͏͏ period.

It͏͏ competes͏͏ with͏͏ Slurrp͏͏ Farm,͏͏ which͏͏ secured͏͏ $7.2͏͏ million͏͏ in͏͏ funding͏͏ in͏͏ January͏͏ of͏͏ this͏͏ year.

Continue͏͏ Exploring:͏͏ Troo Good expands͏͏ operations͏͏ with͏͏ high-tech͏͏ facility͏͏ in͏͏ Chhattisgarh

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ClayCo Cosmetics raises $2 Million in Series A funding led by Unilever Ventures

By
M Haziq Pandit
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0
ClayCo Cosmetics

Mumbai-based skincare brand ClayCo Cosmetics has secured $2 Mn (INR 16 Cr) in its Series A funding round led by Unilever Ventures.

The͏͏ company͏͏ intends͏͏ to͏͏ utilise͏͏ the͏͏ new͏͏ capital͏͏ to͏͏ enhance͏͏ its͏͏ branding͏͏ and͏͏ broaden͏͏ its͏͏ product͏͏ portfolio.

Founded͏͏ in͏͏ March͏͏ this͏͏ year͏͏ by͏͏ Niharika Jhunjhunwala,͏͏ ClayCo͏͏ Cosmetics͏͏ is͏͏ a͏͏ premium͏͏ skincare͏͏ brand͏͏ that͏͏ seamlessly͏͏ blends͏͏ ancient͏͏ beauty͏͏ rituals͏͏ with͏͏ modern͏͏ science.

Founder͏͏ Outlines͏͏ Growth͏͏ Plans͏͏ for͏͏ ClayCo Cosmetics:

“This͏͏ funding͏͏ will͏͏ allow͏͏ us͏͏ to͏͏ boost͏͏ brand͏͏ awareness,͏͏ launch͏͏ new͏͏ products,͏͏ invest͏͏ in͏͏ R&D,͏͏ and͏͏ drive͏͏ our͏͏ growth.͏͏ With͏͏ consumers͏͏ increasingly͏͏ recognising͏͏ global͏͏ ingredients͏͏ like͏͏ fermented͏͏ rice,͏͏ ginseng,͏͏ and͏͏ Cica͏͏ (Centella͏͏ asiatica),͏͏ they͏͏ are͏͏ more͏͏ inclined͏͏ to͏͏ invest͏͏ in͏͏ high-quality,͏͏ effective͏͏ skincare,”͏͏ said͏͏ Jhunjhunwala.

Continue͏͏ Exploring:͏͏ SkinInspired͏͏ raises͏͏ INR͏͏ 12.2͏͏ Cr͏͏ seed͏͏ funding͏͏ to͏͏ redefine͏͏ skincare

Growth͏͏ Potential͏͏ in͏͏ the͏͏ BPC͏͏ Market:

This͏͏ development͏͏ comes͏͏ as͏͏ the͏͏ Indian͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ (BPC)͏͏ market͏͏ is͏͏ experiencing͏͏ rapid͏͏ growth.͏͏ According͏͏ to͏͏ a͏͏ report,͏͏ the͏͏ BPC͏͏ market͏͏ is͏͏ expected͏͏ to͏͏ reach͏͏ $28͏͏ Bn͏͏ by͏͏ 2030,͏͏ accounting͏͏ for͏͏ 7%͏͏ of͏͏ the͏͏ overall͏͏ ecommerce͏͏ market.

The͏͏ sector͏͏ has͏͏ attracted͏͏ over͏͏ $1͏͏ Bn͏͏ in͏͏ funding͏͏ from͏͏ 2014͏͏ to͏͏ H1͏͏ 2024,͏͏ driven͏͏ by͏͏ high͏͏ margins͏͏ and͏͏ innovative͏͏ product͏͏ offerings.

This͏͏ year,͏͏ the͏͏ BPC͏͏ sector͏͏ witnessed͏͏ investments͏͏ such͏͏ as͏͏ Pilgrim͏͏ raising͏͏ $9͏͏ Mn͏͏ in͏͏ August͏͏ 2024,͏͏ with͏͏ funding͏͏ led͏͏ by͏͏ Fireside͏͏ Ventures͏͏ and͏͏ Vertex͏͏ Ventures.

In͏͏ June,͏͏ Foxtale͏͏ secured͏͏ $18͏͏ Mn͏͏ in͏͏ Series͏͏ B͏͏ funding,͏͏ led͏͏ by͏͏ Panthera͏͏ Growth͏͏ Partners.͏͏ Additionally,͏͏ Conscious͏͏ Chemist͏͏ raised͏͏ $1.4͏͏ Mn͏͏ from͏͏ Atomic͏͏ Capital͏͏ this͏͏ month.

Continue͏͏ Exploring:͏͏ Skincare brand͏͏ Asaya͏͏ raises͏͏ $1.5M͏͏ in͏͏ seed͏͏ funding͏͏ led͏͏ by͏͏ OTP͏͏ Ventures͏͏ and͏͏ Huddle͏͏ Ventures

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Agritech startup WayCool raises INR 100 Cr in debt funding from Grand Anicut

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M Haziq Pandit
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0
WayCool Foods
Karthik Jayaraman and Sanjay Dasari, Co-Founders, WayCool Foods

Chennai-based agritech startup WayCool has raised INR 100 crore ($11.9 million) in debt funding from Grand Anicut.

Details͏͏ of͏͏ the͏͏ Capital͏͏ Infusion:

The͏͏ board͏͏ has͏͏ approved͏͏ a͏͏ capital͏͏ infusion͏͏ of͏͏ INR͏͏ 100͏͏ crore͏͏ through͏͏ 1,000͏͏ Series͏͏ B6͏͏ debentures,͏͏ each͏͏ priced͏͏ at͏͏ INR͏͏ 10͏͏ lakh.͏͏ According͏͏ to͏͏ WayCool’s͏͏ RoC͏͏ filing,͏͏ these͏͏ debentures͏͏ carry͏͏ a͏͏ coupon͏͏ rate͏͏ of͏͏ 18%͏͏ per͏͏ annum͏͏ and͏͏ have͏͏ a͏͏ maturity͏͏ period͏͏ of͏͏ 18͏͏ months.

Utilisation͏͏ of͏͏ Funds:

WayCool͏͏ plans͏͏ to͏͏ utilise͏͏ the͏͏ new͏͏ capital͏͏ to͏͏ refinance͏͏ its͏͏ existing͏͏ borrowings͏͏ and͏͏ support͏͏ working͏͏ capital͏͏ needs.

Founded͏͏ in͏͏ 2015͏͏ by͏͏ Karthik͏͏ Jayaraman͏͏ and͏͏ Sanjay͏͏ Dasari,͏͏ WayCool͏͏ markets͏͏ food͏͏ products͏͏ under͏͏ seven͏͏ distinct͏͏ labels͏͏ and͏͏ provides͏͏ supply͏͏ chain͏͏ solutions.

This͏͏ comes͏͏ at͏͏ a͏͏ time͏͏ when͏͏ the͏͏ company͏͏ is͏͏ facing͏͏ challenges͏͏ in͏͏ raising͏͏ new͏͏ capital.

Workforce͏͏ Restructuring:

From͏͏ January͏͏ to͏͏ July͏͏ this͏͏ year,͏͏ WayCool͏͏ laid͏͏ off͏͏ 270͏͏ employees͏͏ as͏͏ part͏͏ of͏͏ its͏͏ initiative͏͏ to͏͏ streamline͏͏ operations͏͏ and͏͏ reduce͏͏ losses.

Additionally,͏͏ last͏͏ year,͏͏ the͏͏ company͏͏ reportedly͏͏ terminated͏͏ around͏͏ 300͏͏ employees.

Continue͏͏ Exploring:͏͏ WayCool Foods implements͏͏ second͏͏ wave͏͏ of͏͏ layoffs,͏͏ 70͏͏ employees͏͏ affected

Financial͏͏ Performance:

Notably,͏͏ the͏͏ agritech͏͏ startup͏͏ has͏͏ been͏͏ reporting͏͏ losses͏͏ lately,͏͏ with͏͏ its͏͏ net͏͏ losses͏͏ rising͏͏ by͏͏ 88.7%͏͏ to͏͏ INR͏͏ 685͏͏ crore͏͏ in͏͏ FY23,͏͏ up͏͏ from͏͏ INR͏͏ 363͏͏ crore͏͏ in͏͏ FY22.

In͏͏ FY23,͏͏ the͏͏ company’s͏͏ revenue͏͏ from͏͏ operations͏͏ reached͏͏ INR͏͏ 1,251͏͏ crore,͏͏ a͏͏ 62%͏͏ increase͏͏ from͏͏ INR͏͏ 772.3͏͏ crore͏͏ in͏͏ FY22.

Continue͏͏ Exploring:͏͏ WayCool Foods reports͏͏ 62%͏͏ revenue͏͏ growth͏͏ to͏͏ INR͏͏ 1,251͏͏ Cr͏͏ for͏͏ FY23;͏͏ net͏͏ loss͏͏ rises͏͏ 89%͏͏ to͏͏ INR͏͏ 685͏͏ Cr

To͏͏ date,͏͏ the͏͏ agritech͏͏ startup͏͏ has͏͏ raised͏͏ approximately͏͏ $300͏͏ million͏͏ and͏͏ counts͏͏ investors͏͏ such͏͏ as͏͏ Lightrock,͏͏ Lightbox,͏͏ Lightsmith,͏͏ 57͏͏ Stars,͏͏ and͏͏ FMO͏͏ among͏͏ its͏͏ backers.

WayCool͏͏ launched͏͏ its͏͏ FMCG͏͏ entity,͏͏ BrandsNext,͏͏ last͏͏ year,͏͏ which͏͏ includes͏͏ brands͏͏ like͏͏ Madhuram,͏͏ KITCHENji,͏͏ DeziFresh,͏͏ and͏͏ Freshey’s.

Continue͏͏ Exploring:͏͏ Agritech firm͏͏ WayCool sets͏͏ up͏͏ FMCG͏͏ arm͏͏ ‘BrandsNext’,͏͏ names͏͏ BP͏͏ Ravindran͏͏ as͏͏ CEO

Last͏͏ year,͏͏ it͏͏ was͏͏ reported͏͏ that͏͏ the͏͏ agritech͏͏ startup͏͏ was͏͏ in͏͏ talks͏͏ to͏͏ raise͏͏ approximately͏͏ $50–70͏͏ million͏͏ at͏͏ a͏͏ valuation͏͏ of͏͏ around͏͏ $900͏͏ million.͏͏ However,͏͏ it͏͏ was͏͏ unable͏͏ to͏͏ close͏͏ this͏͏ round͏͏ due͏͏ to͏͏ the͏͏ ongoing͏͏ funding͏͏ winter.

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Invesco raises Swiggy valuation by nearly 25% to $13.3 Bn ahead of IPO

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M Haziq Pandit
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Swiggy

US-based asset manager Invesco has raised the valuation of foodtech giant Swiggy to $13.3 billion,,͏͏ reflecting͏͏ a͏͏ nearly͏͏ 25%͏͏ jump͏͏ from͏͏ the͏͏ investor’s͏͏ last͏͏ fair͏͏ value͏͏ assessment.

Invesco’s͏͏ Previous͏͏ Investment͏͏ in͏͏ Swiggy:

Invesco͏͏ had͏͏ invested͏͏ in͏͏ Swiggy’s͏͏ $700͏͏ million͏͏ funding͏͏ round͏͏ in͏͏ January͏͏ last͏͏ year,͏͏ which͏͏ valued͏͏ the͏͏ company͏͏ at͏͏ $10.7͏͏ billion.͏͏ During͏͏ this͏͏ round,͏͏ the͏͏ investor͏͏ allocated͏͏ $190.47͏͏ million͏͏ for͏͏ a͏͏ stake͏͏ in͏͏ the͏͏ IPO-bound͏͏ firm.

As͏͏ of͏͏ July͏͏ 2024,͏͏ Invesco’s͏͏ Developing͏͏ Markets͏͏ Fund͏͏ estimates͏͏ the͏͏ value͏͏ of͏͏ its͏͏ stake͏͏ in͏͏ the͏͏ foodtech͏͏ decacorn͏͏ at͏͏ approximately͏͏ $219.25͏͏ million.͏͏ The͏͏ asset͏͏ manager͏͏ owns͏͏ 28,844͏͏ shares͏͏ of͏͏ Swiggy,͏͏ as͏͏ reported͏͏ by͏͏ TechCrunch.

This͏͏ isn’t͏͏ the͏͏ first͏͏ instance͏͏ of͏͏ Invesco͏͏ adjusting͏͏ its͏͏ valuation͏͏ of͏͏ Swiggy.͏͏ In͏͏ July͏͏ last͏͏ year,͏͏ the͏͏ asset͏͏ manager͏͏ lowered͏͏ the͏͏ valuation͏͏ of͏͏ the͏͏ Bengaluru-based͏͏ startup͏͏ to͏͏ $5.5͏͏ billion͏͏ amid͏͏ a͏͏ downturn͏͏ in͏͏ the͏͏ food͏͏ delivery͏͏ market.

Continue͏͏ Exploring:͏͏ Invesco marks͏͏ down͏͏ valuations͏͏ of͏͏ IPO-bound͏͏ Swiggy and͏͏ Pine͏͏ Labs

At͏͏ the͏͏ end͏͏ of͏͏ April͏͏ this͏͏ year,͏͏ Swiggy͏͏ was͏͏ valued͏͏ at͏͏ approximately͏͏ $12.3͏͏ billion.

Swiggy’s͏͏ IPO͏͏ Plans͏͏ and͏͏ Target͏͏ Valuation:

Invesco’s͏͏ increase͏͏ in͏͏ Swiggy’s͏͏ valuation͏͏ coincides͏͏ with͏͏ the͏͏ foodtech͏͏ giant’s͏͏ plans͏͏ to͏͏ go͏͏ public.͏͏ Earlier͏͏ this͏͏ month,͏͏ Swiggy͏͏ submitted͏͏ an͏͏ updated͏͏ draft͏͏ red͏͏ herring͏͏ prospectus͏͏ to͏͏ market͏͏ regulator͏͏ SEBI,͏͏ seeking͏͏ to͏͏ raise͏͏ over͏͏ INR͏͏ 3,750͏͏ crore͏͏ through͏͏ its͏͏ initial͏͏ public͏͏ offering͏͏ (IPO).

Swiggy͏͏ is͏͏ targeting͏͏ a͏͏ valuation͏͏ of͏͏ $15͏͏ billion͏͏ for͏͏ its͏͏ IPO.͏͏ In͏͏ contrast,͏͏ its͏͏ main͏͏ competitor͏͏ Zomato͏͏ was͏͏ valued͏͏ at͏͏ around͏͏ $7͏͏ billion͏͏ during͏͏ its͏͏ IPO͏͏ in͏͏ 2021͏͏ and͏͏ debuted͏͏ with͏͏ a͏͏ valuation͏͏ of͏͏ $12͏͏ billion.

Zomato’s͏͏ market͏͏ cap͏͏ has͏͏ significantly͏͏ increased͏͏ and͏͏ currently͏͏ stands͏͏ at͏͏ INR͏͏ 2.42͏͏ lakh͏͏ crore͏͏ (approximately͏͏ $28.9͏͏ billion).

Recently,͏͏ brokerage͏͏ firm͏͏ Elara͏͏ Capital͏͏ noted͏͏ that͏͏ Swiggy͏͏ is͏͏ expected͏͏ to͏͏ command͏͏ a͏͏ lower͏͏ valuation͏͏ in͏͏ the͏͏ public͏͏ market͏͏ compared͏͏ to͏͏ Zomato,͏͏ as͏͏ it͏͏ continues͏͏ to͏͏ lag͏͏ behind͏͏ the͏͏ Deepinder͏͏ Goyal-led͏͏ startup͏͏ in͏͏ several͏͏ key͏͏ metrics,͏͏ including͏͏ revenue,͏͏ gross͏͏ order͏͏ volume,͏͏ and͏͏ order͏͏ count.

Investor͏͏ Interest:

However,͏͏ investors͏͏ have͏͏ been͏͏ lining͏͏ up͏͏ to͏͏ acquire͏͏ unlisted͏͏ shares͏͏ of͏͏ Swiggy͏͏ ahead͏͏ of͏͏ its͏͏ highly͏͏ anticipated͏͏ IPO,͏͏ reflecting͏͏ a͏͏ growing͏͏ demand͏͏ for͏͏ the͏͏ stock͏͏ amid͏͏ a͏͏ bull͏͏ run͏͏ in͏͏ the͏͏ Indian͏͏ equities͏͏ market.

Renowned͏͏ Indian͏͏ cricketers͏͏ Rahul͏͏ Dravid͏͏ and͏͏ Zaheer͏͏ Khan,͏͏ along͏͏ with͏͏ celebrities͏͏ such͏͏ as͏͏ Madhuri͏͏ Dixit͏͏ and͏͏ Amitabh͏͏ Bachchan,͏͏ have͏͏ recently͏͏ acquired͏͏ a͏͏ stake͏͏ in͏͏ Swiggy.

Continue͏͏ Exploring:͏͏ Swiggy attracts͏͏ celebrity͏͏ investors:͏͏ Rahul͏͏ Dravid,͏͏ Karan͏͏ Johar͏͏ &͏͏ others͏͏ invest͏͏ in͏͏ pre-IPO͏͏ round

Financial͏͏ Performance:

According͏͏ to͏͏ its͏͏ DRHP,͏͏ Swiggy’s͏͏ consolidated͏͏ net͏͏ loss͏͏ increased͏͏ by͏͏ over͏͏ 8%͏͏ to͏͏ INR͏͏ 611͏͏ crore͏͏ in͏͏ the͏͏ June͏͏ quarter͏͏ of͏͏ the͏͏ financial͏͏ year͏͏ 2024-25͏͏ (Q1͏͏ FY25),͏͏ up͏͏ from͏͏ INR͏͏ 564.08͏͏ crore͏͏ in͏͏ the͏͏ same͏͏ period͏͏ last͏͏ year,͏͏ due͏͏ to͏͏ a͏͏ rise͏͏ in͏͏ operating͏͏ costs.

However,͏͏ Swiggy’s͏͏ revenue͏͏ from͏͏ operations͏͏ surged͏͏ 35%͏͏ to͏͏ INR͏͏ 3,222.2͏͏ crore͏͏ during͏͏ the͏͏ quarter͏͏ under͏͏ review,͏͏ up͏͏ from͏͏ INR͏͏ 2,389.8͏͏ crore,͏͏ driven͏͏ by͏͏ robust͏͏ growth͏͏ in͏͏ its͏͏ food͏͏ delivery͏͏ and͏͏ quick͏͏ commerce͏͏ sectors.

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Tata Soulfull launches millet-based Corn Flakes+ for health-conscious consumers

By
M Haziq Pandit
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0
Tata Soulfull

Tata Soulfull, a well-known brand of Tata Consumer Products recognised for its nutritious snacks and breakfast cereals, has launched its latest offering: Tata Soulfull Corn Flakes+..͏͏ This͏͏ innovative͏͏ millet-based͏͏ product͏͏ comes͏͏ in͏͏ two͏͏ delectable͏͏ variants—Original͏͏ (available͏͏ in͏͏ 475g͏͏ and͏͏ 260g͏͏ sizes)͏͏ and͏͏ Honey͏͏ Almond͏͏ (offered͏͏ in͏͏ 450g͏͏ and͏͏ 170g͏͏ sizes)—tailored͏͏ to͏͏ suit͏͏ Indian͏͏ preferences.

Addressing͏͏ the͏͏ market͏͏ need͏͏ for͏͏ high-fiber͏͏ cornflakes,͏͏ Tata͏͏ Soulfull’s͏͏ Corn͏͏ Flakes+͏͏ blends͏͏ corn͏͏ with͏͏ jowar,͏͏ providing͏͏ a͏͏ nutritious͏͏ boost͏͏ in͏͏ every͏͏ bite.͏͏ This͏͏ combination͏͏ increases͏͏ the͏͏ cereal’s͏͏ fiber͏͏ content͏͏ while͏͏ being͏͏ cholesterol-free,͏͏ making͏͏ it͏͏ an͏͏ excellent͏͏ choice͏͏ for͏͏ health-conscious͏͏ consumers͏͏ in͏͏ search͏͏ of͏͏ a͏͏ wholesome͏͏ breakfast͏͏ option.

Crunchy͏͏ and͏͏ Convenient:

Tata͏͏ Soulfull͏͏ Corn͏͏ Flakes+͏͏ offers͏͏ a͏͏ refreshing͏͏ take͏͏ on͏͏ breakfast͏͏ and͏͏ snacking͏͏ by͏͏ combining͏͏ delicious͏͏ taste͏͏ with͏͏ nutritious͏͏ ingredients.͏͏ A͏͏ key͏͏ highlight͏͏ is͏͏ its͏͏ ability͏͏ to͏͏ retain͏͏ crunchiness,͏͏ even͏͏ when͏͏ paired͏͏ with͏͏ warm͏͏ milk,͏͏ making͏͏ it͏͏ a͏͏ convenient͏͏ option͏͏ for͏͏ busy͏͏ families͏͏ seeking͏͏ healthier͏͏ meal͏͏ choices.͏͏ This͏͏ product͏͏ aligns͏͏ with͏͏ Tata͏͏ Soulfull’s͏͏ broader͏͏ mission͏͏ to͏͏ incorporate͏͏ millets͏͏ into͏͏ daily͏͏ diets͏͏ through͏͏ modern,͏͏ accessible͏͏ formats.

Continue͏͏ Exploring:͏͏ Tata Soulfull unveils͏͏ Masala͏͏ Muesli͏͏ with͏͏ bold͏͏ Indian͏͏ flavours

Rasika͏͏ Prashant,͏͏ Chief͏͏ Marketing͏͏ Officer͏͏ of͏͏ Soulfull,͏͏ stated,͏͏ “At͏͏ Tata͏͏ Soulfull,͏͏ we͏͏ are͏͏ dedicated͏͏ to͏͏ recognising͏͏ unmet͏͏ needs͏͏ in͏͏ the͏͏ wholesome͏͏ snacking͏͏ and͏͏ breakfast͏͏ segments.͏͏ As͏͏ consumer͏͏ preferences͏͏ evolve͏͏ and͏͏ awareness͏͏ of͏͏ health͏͏ and͏͏ wellness͏͏ increases,͏͏ it͏͏ is͏͏ essential͏͏ for͏͏ us͏͏ to͏͏ address͏͏ these͏͏ gaps͏͏ with͏͏ innovative͏͏ solutions.͏͏ The͏͏ launch͏͏ of͏͏ Tata͏͏ Soulfull͏͏ Corn͏͏ Flakes+͏͏ marks͏͏ a͏͏ significant͏͏ step͏͏ in͏͏ this͏͏ journey,͏͏ responding͏͏ to͏͏ the͏͏ clear͏͏ demand͏͏ for͏͏ a͏͏ high-fiber,͏͏ wholesome͏͏ breakfast͏͏ option.͏͏ We͏͏ are͏͏ excited͏͏ to͏͏ see͏͏ how͏͏ Tata͏͏ Soulfull͏͏ Corn͏͏ Flakes+͏͏ enhances͏͏ breakfast͏͏ tables͏͏ across͏͏ the͏͏ country.”

Expanding͏͏ the͏͏ Millet Portfolio:

This͏͏ latest͏͏ addition͏͏ enhances͏͏ Tata͏͏ Soulfull’s͏͏ growing͏͏ portfolio͏͏ of͏͏ millet-based͏͏ products,͏͏ which͏͏ features͏͏ Millet͏͏ Muesli,͏͏ Ragi͏͏ Bites,͏͏ and͏͏ Masala͏͏ Oats+.͏͏ Each͏͏ of͏͏ these͏͏ offerings͏͏ showcases͏͏ the͏͏ brand’s͏͏ commitment͏͏ to͏͏ promoting͏͏ the͏͏ advantages͏͏ of͏͏ millets,͏͏ incorporating͏͏ traditional͏͏ grains͏͏ such͏͏ as͏͏ ragi,͏͏ jowar,͏͏ and͏͏ bajra͏͏ into͏͏ modern͏͏ diets͏͏ through͏͏ convenient͏͏ and͏͏ contemporary͏͏ food͏͏ formats.

Supporting͏͏ ‘Desh͏͏ ke͏͏ Millets’͏͏ Initiative:

With͏͏ the͏͏ launch͏͏ of͏͏ Corn͏͏ Flakes+,͏͏ Tata͏͏ Soulfull͏͏ reaffirms͏͏ its͏͏ commitment͏͏ to͏͏ the͏͏ ‘Desh͏͏ ke͏͏ Millets’͏͏ initiative,͏͏ a͏͏ movement͏͏ focused͏͏ on͏͏ making͏͏ traditional͏͏ grains͏͏ accessible͏͏ to͏͏ every͏͏ Indian͏͏ household.͏͏ As͏͏ the͏͏ brand͏͏ continues͏͏ to͏͏ innovate,͏͏ it͏͏ remains͏͏ dedicated͏͏ to͏͏ expanding͏͏ its͏͏ range͏͏ of͏͏ millet-based͏͏ products͏͏ to͏͏ meet͏͏ the͏͏ needs͏͏ of͏͏ today’s͏͏ health-conscious͏͏ consumers.

The͏͏ launch͏͏ of͏͏ Tata͏͏ Soulfull͏͏ Corn͏͏ Flakes+͏͏ reinforces͏͏ the͏͏ brand’s͏͏ reputation͏͏ for͏͏ innovation͏͏ in͏͏ the͏͏ food͏͏ industry.͏͏ As͏͏ health͏͏ and͏͏ wellness͏͏ become͏͏ top͏͏ priorities͏͏ for͏͏ consumers,͏͏ Tata͏͏ Soulfull͏͏ remains͏͏ at͏͏ the͏͏ forefront͏͏ with͏͏ products͏͏ that͏͏ balance͏͏ taste͏͏ and͏͏ nutrition,͏͏ highlighting͏͏ the͏͏ versatility͏͏ and͏͏ benefits͏͏ of͏͏ millets.

Continue͏͏ Exploring:͏͏ Marico͏͏ expands͏͏ Saffola͏͏ range͏͏ with͏͏ launch͏͏ of͏͏ Masala͏͏ Millets in͏͏ two͏͏ flavours

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Andhra Pradesh unveils new liquor policy, expected to generate INR 5,500 Cr in revenue

By
M Haziq Pandit
-
0
liquor

The Andhra Pradesh government announced a new liquor policy on Tuesday, permitting private retailers to sell spirits similarly to Haryana and other states, with expectations of generating INR 5,500 crore in revenue.

Complete͏͏ Overhaul͏͏ of͏͏ Excise͏͏ Policy:

In͏͏ a͏͏ complete͏͏ revamp͏͏ of͏͏ its͏͏ excise͏͏ policy,͏͏ drawing͏͏ on͏͏ best͏͏ practices͏͏ from͏͏ other͏͏ states,͏͏ the͏͏ government͏͏ has͏͏ opted͏͏ for͏͏ the͏͏ privatisation͏͏ of͏͏ liquor͏͏ retail,͏͏ with͏͏ 3,736͏͏ retail͏͏ shops͏͏ approved͏͏ throughout͏͏ the͏͏ state.͏͏ The͏͏ new͏͏ policy͏͏ is͏͏ set͏͏ to͏͏ take͏͏ effect͏͏ on͏͏ October͏͏ 12,͏͏ 2024,͏͏ according͏͏ to͏͏ the͏͏ government͏͏ notification.

Continue͏͏ Exploring:͏͏ Andhra Pradesh to͏͏ unveil͏͏ new͏͏ liquor policy focusing͏͏ on͏͏ quality͏͏ and͏͏ premium͏͏ outlets

Affordable͏͏ Options͏͏ for͏͏ Low-Income͏͏ Groups:

Through͏͏ this͏͏ policy,͏͏ the͏͏ government͏͏ aims͏͏ to͏͏ offer͏͏ affordable͏͏ options͏͏ for͏͏ low-income͏͏ groups.͏͏ The͏͏ Andhra͏͏ Pradesh͏͏ government͏͏ has͏͏ introduced͏͏ low-priced͏͏ liquor͏͏ at͏͏ INR͏͏ 99͏͏ or͏͏ less͏͏ to͏͏ reduce͏͏ the͏͏ demand͏͏ for͏͏ illicit͏͏ alcohol,͏͏ while͏͏ also͏͏ encouraging͏͏ national͏͏ suppliers͏͏ to͏͏ launch͏͏ their͏͏ brands͏͏ at͏͏ this͏͏ price͏͏ point.

Aiming͏͏ to͏͏ Boost͏͏ Sales:

The͏͏ new͏͏ liquor͏͏ policy͏͏ is͏͏ anticipated͏͏ to͏͏ reverse͏͏ the͏͏ sales͏͏ decline͏͏ experienced͏͏ over͏͏ the͏͏ past͏͏ five͏͏ years,͏͏ positioning͏͏ the͏͏ state͏͏ among͏͏ the͏͏ top͏͏ three͏͏ markets,͏͏ according͏͏ to͏͏ companies͏͏ and͏͏ analysts.

The͏͏ policy͏͏ will͏͏ be͏͏ in͏͏ effect͏͏ for͏͏ two͏͏ years,͏͏ fostering͏͏ stability͏͏ and͏͏ predictability͏͏ in͏͏ the͏͏ regulatory͏͏ environment,͏͏ which͏͏ is͏͏ expected͏͏ to͏͏ boost͏͏ participation͏͏ from͏͏ retailers.

Andhra͏͏ Pradesh’s͏͏ liquor͏͏ market͏͏ has͏͏ halved͏͏ over͏͏ the͏͏ past͏͏ five͏͏ years͏͏ due͏͏ to͏͏ continuous͏͏ price͏͏ increases͏͏ and͏͏ preferences͏͏ for͏͏ local͏͏ players.͏͏ The͏͏ Beer͏͏ Industry͏͏ Association͏͏ of͏͏ India͏͏ anticipates͏͏ renewed͏͏ investment͏͏ interest͏͏ in͏͏ the͏͏ state,͏͏ potentially͏͏ worth͏͏ thousands͏͏ of͏͏ crores,͏͏ as͏͏ the͏͏ cost͏͏ of͏͏ each͏͏ brewery͏͏ ranges͏͏ from͏͏ INR͏͏ 300͏͏ crore͏͏ to͏͏ INR͏͏ 500͏͏ crore.

Lottery͏͏ System͏͏ for͏͏ Licensing:

Licences͏͏ will͏͏ be͏͏ distributed͏͏ via͏͏ an͏͏ online͏͏ lottery͏͏ system,͏͏ featuring͏͏ four͏͏ categories͏͏ with͏͏ fees͏͏ between͏͏ INR͏͏ 50͏͏ lakh͏͏ and͏͏ INR͏͏ 85͏͏ lakh.͏͏ Shop͏͏ owners͏͏ can͏͏ expect͏͏ a͏͏ profit͏͏ margin͏͏ of͏͏ 20%͏͏ on͏͏ their͏͏ sales.͏͏ Additionally,͏͏ the͏͏ government͏͏ plans͏͏ to͏͏ issue͏͏ licences͏͏ for͏͏ 12͏͏ premium͏͏ shops,͏͏ each͏͏ valid͏͏ for͏͏ five͏͏ years,͏͏ with͏͏ a͏͏ fee͏͏ of͏͏ INR͏͏ 1͏͏ crore.

The͏͏ new͏͏ excise͏͏ policy͏͏ may͏͏ result͏͏ in͏͏ substantial͏͏ market͏͏ share͏͏ increases͏͏ for͏͏ larger͏͏ players.

Continue͏͏ Exploring:͏͏ Big͏͏ liquor and͏͏ beer͏͏ brands͏͏ to͏͏ make͏͏ a͏͏ comeback͏͏ in͏͏ Andhra Pradesh

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